According to a recent analysis from Profiles of Bermuda, the Bermuda economy could shed as many as 2,400 jobs in 2013 — or 6.8% of the workforce — if current job trends continue.

The Company said, “This would follow on the heels of nearly 2,000 jobs lost in 2012, 5.2% of the workforce. The economy shed nearly 5,000 jobs from its peak of just over 40,000 in 2008, to 2012.

“The current forecasted job losses, if they actually pan out, would indicate that the 5-year recession has not yet run its course and will continue into 2014.

“The most significant job losses are expected to occur in the Construction Sector where one-quarter of jobs (25.8%), or nearly 600, could be gone by the end of the year. The International Company Sector could lose nearly 500 jobs or 12.1% of its workforce.

“Business Services, which acts as support to the International Sector, could suffer a 10% decline or nearly 400 jobs. Only two of the 16 sectors are expected to show an increase in jobs – Electricity, Gas and Water, up by 3.6% or 14 jobs, and Education, Health and Social Work, up by 1.3% or 50 jobs.”

When the PLP took over in 1998, they inherited an economy with 38,000 jobs. At its peak it reached 40,000. In 2012, when the OBA took over, it had declined under the PLP to 35,000 jobs. So it looks like you’re the one who should be checking the facts.

When the PLP took office in 1998, they inherited an economy with 38,000 jobs. When they left office in 2012, there were 35,000 jobs. That is a reduction of 3,000 jobs over the period of time the PLP was in power.

During the last 4 years of PLP government the number of jobs reduced from 40,000 to 35,000. That is a reduction of 5,000 jobs over the last 4 years of PLP government.

It’s you who has a problem with comprehension skills. Yesterday my original comment was responding to ‘lol’ who, stupidly, tried to make it appear that the PLP “created” a lot of jobs. My point, which you appear to want to ignore, is that while the PLP were in power, the number of jobs reduced by thousands. Anyway way you look at it, the number reduced. That is a fact.

It is you, no-one else, who attempted to introduce discussion about it being ‘government policy under the PLP that took away 8,000 jobs’ (sic). If you want to start that discussion, go ahead. But it’s only you that thinks the number is 8,000, as I’ve tried to explain.

It’s interesting. LOL yesterday wanted us to look at the “facts” (as he mistakenly thought they were), to suggest that the PLP “created the most jobs”. But when I point out his ridiculous misunderstanding of the stats (to put it mildly) suddenly the paranoid PLP supporters come out and deny the PLP had anything to do with the number of jobs in the economy.

Explain to me first exactly what the PLP did to “create” jobs, since that’s what PLP supporters seem to be taking credit for.

As for whether I “know what I’m talking about”, justsayin, or windwater, or whatever you’re calling yourself today, can you let me know what it is that I said that you think is inaccurate? Or are you actually full of sh1t?

The public sector grew a lot. Taxpayers money provided many of those jobs. Which many of those jobs are still held. The jobs that were lost were private sector jobs, you know the ones that provide Govt Revenue without being on Govt Payroll.

Most of those were public sector jobs that are now one of the main reasons Bermuda has such crippling public debt. Essentially instead of private sector employment which gives the government revenue we ended up with a bloated civil service that sucks a large portion of the revenue right out. Had they been employed in the private sector there would be more revenue and less expenses and even with the numerous cost over-runs we would be in a better position than we find ourselves in now.

No my solution would be to keep the civil servants and “grow” our way out of debt and unemployment by allowing LTR’s to gain citizenship (after a qualifying period) and open businesses. I’d take the “lean to love Auslanders” route:

PLP done screwed Bermuda all round and people still defend them! This is the question to the plp faithful What if the Oba or UBP done this to us!? I can only imagine the words that will come out of there mouths! Put that into prospective!

As I predicted OBAubp will not create 2000 jobs as promised pre-election but rather there will be up to 2000 job losses. Well OBAubp you said you will do this or that..but what we have here is a bad situation that you fail to be honest with the people merely to gain their votes. How will the OBAubp spin this now?

You’re about 4 years too early in saying that you are right in your prediction. Try and be a little patient. Every one of us needs the OBA to be succeed in helping to rev up the economy and create jobs, otherwise Bermuda’s future could be extremely bleak.

very interesting statistics but what is more interesting is that money and time was wasted on something we already know and many have been saying for the past couple of years.

maybe someone should suggest a direct hook up to the house of assembly and the senate, I think all blogs from bernews should be forwarded to our kindergarten classes at the house of assembly and the senate and then if that proves viable we would patch them in to the talk shows.

And just how much did this report cost and I don’t care if the tax payers paid for it or a private company, the point is, it is not new information and we have been screaming at this government and the previous administration along the same thing, interesting enough what are they going to do going forward to help displaced families and people that can’t survive in this country.

We don’t even have a decent homeless shelter to help take up the burden as it arises,should have listen to the Hon. Dale Butler when he said do it now but that damn rat infested place still exist under the same condition and at the rate this country is going you will need multiple shelters,East,West and Central, man and women and then for families, bunch of bright idiots,that will blame folk for being homeless, when it is business people and politicians that ran this damn country in the ground, sorry excuse for educated people.

Duane it’s true,”what a waste of dollars” Now, as far as the Island lacking in a decent homeless shelters its beyond pathetic…( and yes, Mr. Dale Butler mentioned it years ago but no-one listen to him either)I can’t understand why is it that we/Bermudas Govts are always wasting cash that is in need elsewhere? i.e. The prisons are a luxury in comparison to what many decent families are facing with having to choose between paying a bill or buying food and that is wrong. Why mustn’t these individuals getting free food, medications shelter etc. in the prisons paying us back daily and not permitted to lay in a cell or some other confines all day talking crap and doing absolutely nothing but burdening the Taxpayers?

So using 35 data points (annual data) to predict the future…. sounds good. Mr. Riley, what is the associated error with these predictions? All statistics have an error margin, so what level of confidence have you used for these bold, fearless predictions

@inna and Darkside of the moon i understand that i spelled things wrong and so have u! But no need to argue u caught my drift! But i don’t bother to put them out cuz i understand what u are trying to say! Maybe its cuz the truth hurts!?

well there is no way out of this for the Anti-Bermudian one term OBA government. Thier solution lower the living standards of Bermuda. reduce the spending power of six thousand government workers and thier families. In reaction to two thousand plus Bermudians out of work; bring in more migrant workers. Sell off Bermudian land and housing to foreigners and thereby steal the future of our children. Open the gates wider England; the OBA government is pushing it’s own people in your direction.

Mr. Williams, please could you explain why a 60,000 headcount population of Bermuda was adequately served by 3,000 civil servants in 2003 and now, just 10 years later, that same 60,000 headcount requires service by 6,000 civil servants? please show me, as a taxpayer, where having twice as many people on my payroll has benefitted me?

And by the way, just for comparison sake, the Isle of Man has a 95,000 headcount population and yet is currently served by just 2,500 civil servants. Incidentally, I would love to know where Jersey and Guernsey come in on this like-for-like comparison, but they don’t seem to publish their civil service numbers, if anyone knows please can you weigh in?

Well considering there are only 4 months left in 2013 Cordell would seem to have been. Little off with his prediction. Unless we are going to see 2000 jobs go in the in the next 4 months. Maybe his numbers were based on the PLP still being in power, in which case he would probably be about right. Probably another couple hundred will be lost by the end of 2013 realistically.

The OBA are doing what they can to stimulate what has been a depressed island. Give them a chance, the alternative is something none of us want.

MOOYUN’ That six thousand government workers and thier families spend thier money right here in the Bermuda economy. It does not fly through the doors of the money shops to arrive at foreign destinations where the governments of thier nationals have no hesitation in taxing what comes in from overseas. The big lie has been told over and over again. It is not the foreign; expat; or migrant worker that makes up the back bone of the Bermudian economy; it is the Bermudian that is the back bone of this economy; just like nationals of other jurisdictions form the back bone of thier economies. You tell me what impact on the Bermudian economy will a policy of laying off Bermudian workers and the down grading of Bermuda’s standard of living; have on that economy?

Interesting. You easily understand that Bermudian employees spend money in the local economy, and you understand that is good for us. Yet you have a lot of trouble understanding that nonBermudian employees spend money in the local economy, which is also good for us.

Mr. Riley is a long term member of the PLP. This is not an independent report. He is not taking into account the growth from the many new Int’l companies setting up here, those growing here, improved rental & sales housing markets, $70M investment in Hamilton Princess, Ariel Sands development, etc.. He is a pessimist and wants the OBA to fail so we can return to the “glory days of the PL…..”

You’re not willing to accept the 215 jobs coming next year once Pink Beach has been renovated but you’re willing to accept Cordell Riley’s ridiculous guessed assertion that 2,400 jobs will be lost by the end of the year.

@ Zombie, you’re trying to give fact to someone who clearly either doesn’t want to see it or wants others to believe their misrepresentation. Someone, not unlike Betty or Laverene, who would stoop so low and who believes by using different alias’s they can create the illusion that more people share their ridiculous opinion but yet can’t even keep up with their own lies. I’d say its pointless, but then again if no one said anything they might actually be able to cause some (more) real damage. They also don’t seem to grasp the concept of the delay in which policies and change need in order to take effect. If the election was last month, to them all these job losses are because of the oba because they’re in power, definitely not the aftermath of the reign of terror. If they can’t honestly see that they’re either willfully blind or outright f@ckin stupid and all I have is a high school leaving certificate….F@ck it, carry on.

That’s all? Back up what you say. Everything I said is clear as day in black text on a white background. Did justsayin use another alias? Yea, yea they did. You don’t actually think I take anything you say seriously do you? Your a joke, god1st who doesn’t believe in god. Denial land lol that sounds familiar, go have a drink with Betty and the rest of her personalities. Ain’t nobody got time for you.

Show me where I said that. The only reason I voted oba was to pick the lesser of two evils and it was the only logical thing to do to get your party out. The only team I support is Manchester United, sure as hell not a political party. See, the difference between you and I is that you refer to Bean as your leader, as for me, whoever is in government at the time works for me and the rest of the people of this island. The plp did so much damage towards the end of their 14 years because people like you allowed them to forget that.